AQR Capital Management LLC Raises Position in Turning Point Brands, Inc. (NYSE:TPB)

AQR Capital Management LLC lifted its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 32.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,867 shares of the company’s stock after purchasing an additional 10,033 shares during the quarter. AQR Capital Management LLC owned about 0.23% of Turning Point Brands worth $1,311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its holdings in shares of Turning Point Brands by 0.3% in the 2nd quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock valued at $3,849,000 after acquiring an additional 367 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Turning Point Brands by 8.9% in the second quarter. Principal Financial Group Inc. now owns 8,456 shares of the company’s stock valued at $271,000 after purchasing an additional 693 shares during the last quarter. Access Investment Management LLC grew its position in Turning Point Brands by 0.6% during the 2nd quarter. Access Investment Management LLC now owns 121,385 shares of the company’s stock worth $3,895,000 after purchasing an additional 745 shares during the period. Price T Rowe Associates Inc. MD grew its position in Turning Point Brands by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,637 shares of the company’s stock worth $371,000 after purchasing an additional 800 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Turning Point Brands by 6.8% during the 1st quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock valued at $532,000 after buying an additional 1,159 shares during the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Brands Trading Down 1.0 %

Shares of TPB stock opened at $41.35 on Friday. Turning Point Brands, Inc. has a twelve month low of $19.67 and a twelve month high of $43.25. The stock has a market cap of $728.67 million, a price-to-earnings ratio of 18.22 and a beta of 0.63. The company’s 50-day moving average price is $39.73 and its 200-day moving average price is $34.77. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.82 earnings per share for the quarter. The business had revenue of $108.51 million during the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. As a group, equities analysts predict that Turning Point Brands, Inc. will post 2.68 earnings per share for the current year.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were given a $0.07 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.28 annualized dividend and a yield of 0.68%. Turning Point Brands’s dividend payout ratio is presently 12.33%.

Analyst Upgrades and Downgrades

Several research firms recently commented on TPB. Benchmark restated a “buy” rating and set a $45.00 price target on shares of Turning Point Brands in a research report on Friday, August 2nd. StockNews.com lowered Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Roth Mkm began coverage on Turning Point Brands in a report on Thursday, September 19th. They issued a “buy” rating and a $50.00 price objective on the stock.

Insiders Place Their Bets

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total value of $78,840.00. Following the sale, the director now owns 46,544 shares of the company’s stock, valued at $1,834,764.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.20% of the company’s stock.

Turning Point Brands Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.